Saxo's Quarterly Outlook: Q1 2019

Saxo's Quarterly Outlook: Q1 2019

Discover the key trading theme this quarter in the #SaxoStrats’ Q1 2019 Outlook.

Our expert strategists have come together to offer you unrivalled analysis, getting to the heart of economic forecasts, policy horizons, asset prices and more. The publication focuses on global policy panic; after a chaotic end to 2018, will policymakers overcorrect to help salvage a sinking economy that’s still reeling from the mistakes of the last decade?

Beware the global policy panic

Europe is sliding back into recession, China has pushed back its 2025 plan by a decade and US market tremors have forced the Federal Reserve to make an embarrassing about-face in its first 2019 outing. Welcome to the Grand Finale of what Saxo’s chief economist Steen Jakobsen terms “the worst monetary experiment in history”.

It is both difficult and dispiriting to tally the costs of the extend-and-pretend regime. The replacement of the business cycle by a mere credit cycle, the inflation of asset prices and the creation of the worst inequality seen in generations have already wrought foreboding economic and political changes. These are the ingredients of the coming panic, which will likely see policymakers scramble wildly to recover some semblance of post-crisis normalcy.

These problems, as well as the problems created by trying to solve them, will bring volatility, turmoil, and wild swings of sentiment to markets this coming year. Whether 2019 marks the start of a new cycle or merely the prelude to an introduction, clear-eyed investors will need to be more active and dynamic than ever before.

Download the Quarterly Outlook now and read the SaxoStrats’ views on the macro picture, as well as specific asset classes.

QUARTERLY OUTLOOK

Q1 Outlook: Beware the global policy panic

Steen Jakobsen

Chief Economist & CIO


QUARTERLY OUTLOOK

Q4 Outlook: Is China cheap?

Eleanor Creagh

Australian Market Strategist


QUARTERLY OUTLOOK

Q4 Outlook: China leads the way

Jacob Pouncey

Cryptocurrency analyst, Saxo Bank


QUARTERLY OUTLOOK

Q4 Outlook: Find a parachute as impact is close

Peter Garnry

Head of Equity Strategy


QUARTERLY OUTLOOK

Q4 Outlook: Trump, sanctions, and tariffs

Ole Hansen

Head of Commodity Strategy


QUARTERLY OUTLOOK

Q4 Outlook: Emerging or submerging markets?

Steen Jakobsen

Chief Economist & CIO


QUARTERLY OUTLOOK

Q4 Outlook: A strong USD is its own worst enemy

John Hardy

Head of FX Strategy


QUARTERLY OUTLOOK

Q4 Outlook: China opens the credit taps

Christopher Dembik

Head of Macro Analysis


QUARTERLY OUTLOOK

Q4 Outlook: Preparing for the slowdown

Althea Spinozzi

Fixed Income Specialist


QUARTERLY OUTLOOK

Q4 Outlook: EM central banks to pay the Fed piper

Kay Van-Petersen

Global Macro Strategist


Download the Quarterly Outlook now to read our #SaxoStrats’ analysis in full, and discover what this quarter holds in store for macro, equities, forex, fixed income, commodities, cryptos and more.

Previous Quarterly Outlooks